Ethereum (ETH) Price Approaching $160 While Bitcoin Settles Below $8K

THELOGICALINDIAN - Ethereum amount is assuming bearish signs against the US Dollar while bitcoin is crumbling ETH amount ability abide to move bottomward and it could analysis 160

Ethereum Price Analysis

Recently, Ethereum bootless to beat the $180 attrition area adjoin the US Dollar. As a result, ETH amount started a beginning abatement beneath the $175 abutment area. Moreover, there was a abutting beneath the $175 abutment and the 100 alternate simple affective average. The amount alike bankrupt the $172 and $170 abutment levels. A new account low was formed abreast $167 and the amount is currently accumulation losses.

An actual attrition is abreast the $170 level. It coincides with the 23.6% Fib retracement akin of the contempo abatement from the $177 aerial to $167 low. The capital hurdles for the beasts are abreast the $172 and $175 levels. Moreover, there is a above bearish trend band basic with attrition abreast $174 on the alternate blueprint of ETH/USD. An average attrition is abreast the 50% Fib retracement akin of the contempo abatement from the $177 aerial to $167 low.

Therefore, an upside alteration from the accepted levels ability face sellers abreast the $172 and $175 levels. A acknowledged abutting aloft the $175 akin and the 100 alternate SMA could accessible the doors for a accretion appear the $180 and $185 attrition levels.

If there is no accretion aloft $175, the amount ability abide to move down. An actual abutment is abreast the $165 level. A downside breach beneath the $165 abutment could set the clip for a bead appear the $160 abutment breadth in the abreast term.

Looking at the chart, Ethereum amount is acutely trading in a bearish area beneath the $175 akin and the 100 alternate SMA. To recover, the amount charge achieve aloft the $175 axis level. If not, there is a accident of a downside breach beneath the $165 and $160 abutment levels. The capital abutment is abreast the $155 and $154 levels.